The Financial Guidance and Claims Act 2018 (Commencement No. 2) Order (Northern Ireland) 2022

EXPLANATORY NOTE

(This note is not part of the Order)

This Order commences certain provisions of the Financial Guidance and Claims Act 2018 (“the Act”) on 1st June 2022 relating to requirements to refer individuals to pensions guidance in certain circumstances.

Section 19(7) and (8) of the Act (requirement to refer relevant beneficiaries to appropriate guidance by trustees or managers of occupational pension schemes) was commenced for the purpose only of authorising the making of regulations on 15th March 2022 and is commenced for all remaining purposes by this Order, as is section 19(6) of the Act.

Section 19(7) of the Act inserts section 109B into the Pension Schemes (Northern Ireland) Act 1993 (c. 49) (“the 1993 Act”) (occupational pension schemes: requirements to refer members to guidance etc.). Section 109B of the 1993 Act, amongst other things, requires the Department for Communities to make regulations requiring the trustees or managers of occupational pension schemes to refer relevant beneficiaries to appropriate pensions guidance in certain circumstances.

Section 19(8) of the Act amends section 111 of the 1993 Act (powers as respects failure to comply with information requirements) to add a reference to regulations made under section 109B of the 1993 Act. This is to enable specified persons, where the trustees or managers of an occupational pension scheme make default in complying with requirements of regulations made under section 109B of the 1993 Act, to make an application to a county court for an order directing the trustees or managers to make good the default in complying with those requirements.